London-based Sales Intelligence vendor Cognism closed on an $87.5 million (£64m) Series C. The round was led by Viking Global Investors and Blue Cloud Ventures, with follow-on investors AXA Venture Partners, Swisscom Ventures, and Volution.
Total funding is just shy of $130 million.
The funds will be deployed for European expansion and strengthening Cognism’s position in the United States. Growth will be a “combination of organic growth and acquisitions.”
“The funding will help us empower many more businesses with international sales intelligence over the coming years, setting a new standard in data quality and compliance,” explained CEO James Isilay. “It will accelerate our growth and global expansion plans as the leading provider of intelligent B2B sales data.”
“We will be organically expanding in the United States this year and have just hired new sales leadership (Mark Sparaco) to accelerate our growth,” Isilay told GZ Consulting. “Europe remains our primary focus, but we see significant differentiation to other providers in our US and International data that we see significant growth opportunities.”
The firm will remain focused on improving its global data coverage and Sales Intelligence capabilities in 2022. Roadmap features include marketing enhancements and localization in non-English speaking countries.
Cognism is coming off another strong year, with ARR growth hitting 100%. They have over 1,000 customers, located in over forty countries.
Isilay is targeting another year of 100%+ growth and stated that Cognism is off to a good start in January with a “record revenue month.”
2021 data improvements include Diamond Data and the addition of Bombora’s intent data set as a premium offering. Diamond data provides “the most accurate, GDPR & CCPA compliant phone-verified contacts for business development teams internationally, setting a new standard in data quality,” boasted the firm.
The Diamonds-on-Demand request feature supports on-demand phone verification from both the web application and the Cognism Chrome extension. Users click on a Diamond Verify button to initiate the verification process, which is completed within 48 hours. In addition, users can track the status on the platform.
“No other software company offers a truly global sales intelligence platform like Cognism. “By pairing our premium quality contact data with advanced contextual data points like technographics and buyer intent signals, we help modern revenue teams connect with confidence and exceed targets. We enable them to build a meaningful connection with their next best customer in the most predictable, efficient, and cost-effective way.”Cognism CEO James Isilay
Cognism has grown to over 250 employees in seven countries: the United Kingdom, United States, Canada, South Africa, Croatia, Macedonia, and Germany.
Cognism did not state its market valuation.
Cognism also announced that it is SOC II Type 2 compliant. The designation confirms that Cognism meets AICPA’s Trust Services Criteria for Security, Availability, Confidentiality, Processing Integrity, and Privacy with regards to data.
“We live and breathe security and compliance at Cognism as we handle large amounts of company data that help our customers reach new target audiences,” blogged Cognism CTO Stjepan Buljat. “Most companies, when they start their SOC 2 compliance journey, choose to select type 1 qualification, whereas we’ve selected the more complex type 2 route – often described as the difference between a balance sheet audit and a full audit of financial operations. Type 2 looks at the information security controls we have in action and confirms that we’re organised to handle the data privacy concerns of the largest companies on the planet.”